CHICAGO, Oct. 19, 2017 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase, and simultaneous leaseback to Total Logistics, Inc ("Total Logistics") of an 86,460 square foot facility located at 2900 Granada Lane North, Oakdale, MN. Total Logistics is a third-party logistics and supply management company and its core services include dedicated fleets, third-party logistics, and warehousing services for end-to-end logistics management.
Kevin Brennan, Vice President of Acquisitions at Brennan Investment Group stated, "We are pleased to complete the acquisition of 2900 Granada Lane North, located within the Minneapolis/St. Paul MSA. The Minneapolis/St. Paul market has demonstrated strong fundamentals, evidenced by over 7 consecutive years of positive net absorption, and an overall occupancy of 95.8%."
"The acquisition of the Total Logistics facility was funded through our $300,000,000 net leased joint venture with one of Arch Street Capital Advisors' institutional clients," said Robert Vanecko, Brennan Investment Group's Managing Principal and the head of the firm's single-tenant, net lease division. "We are excited to add this property to our growing portfolio."
The key criteria of Brennan's net lease joint venture are (i) location in the top 100 U.S. markets, (ii) remaining lease term of at least 13 years, (iii) non-investment grade credits will be considered, (iv) significant facility investment by the tenant, and (v) all industrial facility types, including manufacturing, assembly, R&D and distribution.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $3 billion in industrial real estate. The company's current portfolio spans 25 states and encompasses over 34 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
SOURCE Brennan Investment Group